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HindustanTimes Mon,29 Dec 2014

D-Street welcomes Govt's trust vote win

PTI  Mumbai, July 22, 2008
First Published: 21:05 IST(22/7/2008) | Last Updated: 21:10 IST(22/7/2008)
Dalal Street on Tuesday welcomed the UPA government's win in the confidence vote with marketmen saying that the end of political uncertainty for the time being should boost the market sentiments.

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"The market is likely to open strong tomorrow and the rally is expected to continue for another day," domestic brokerage house SMC Global's Vice-President Rajesh Jain said after the UPA government won the trust vote on Tuesday in Parliament.

"The positive rally is likely to continue for the next couple of days. The softening crude oil prices had started the rally and the favourable political situation will add further momentum to the surge," brokerage firm Bonanza Portfolio's President (Research) P K Agarwal said.

Echoing similar sentiments, Asika Stock Brokers' Research Head Paras Bodhra said: "A rally is expected in the market tomorrow which will continue in the short-term, if the global market remains supportive."

After a strong opening trade, the global cues could, however, lead the further movement on the bourses, SMC Global's Jain added.

Kejriwal Research and Investment Services (KRIS) Director Arun Kejriwal said there would be an initial euphoria in the market on Wednesday with results coming in favour of the UPA.

"But after the initial rally, the markets could again start looking at inflation, global situation and other macro indicators which will decide its next course," Kejriwal said.

The Sensex on Tuesday settled with a gain of 254 points at 14,104.20 points, after a gain of over 200 points in the Monday's session as well.


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